Franklin Templeton Affiliate Western Asset High Income Fund II Inc. Completes Rights Offering
02.27.24
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Simpson Thacher represented Western Asset High Income Fund II Inc. (the “Fund”) in connection with a transferable rights offering to subscribe for shares of common stock. The Fund is a closed-end management investment company registered under the 1940 Act. The Fund’s shares of common stock trade on the NYSE under the ticker symbol “HIX” and the rights were listed and traded on the NYSE during the subscription period for the rights offering. Rights holders were entitled to purchase shares of common stock by submitting three rights and the subscription price per share for each share purchased. The rights offering was oversubscribed, resulting in anticipated gross proceeds to the Fund of over $96 million. Franklin Templeton Fund Adviser, LLC is the Fund’s investment manager. The Fund is sub-advised by Western Asset Management Company, LLC and its affiliates. The investment manager and the sub-adviser are indirect wholly-owned subsidiaries of Franklin Resources, Inc.
The Simpson Thacher team included David Blass, Ryan Brizek, Debbie Sutter, Andy Madore and Amy Donofrio (Registered Funds).